AccorHotels ties new €1.2bn revolving credit score facility to environmental efficiency | Information

AccorHotels has signed an settlement with a consortium of 15 banks for a brand new €1.2 billion revolving credit score facility, with a margin that might be notably depending on the group’s efficiency when it comes to atmosphere, social and governance.

The brand new facility has a five-year tenor with two one-year extension choices to be exercised in 2019 and 2020.

It replaces the undrawn €1.eight billion facility signed in June 2014, that had been lowered to €1.2 billion following the completion of the AccorInvest disposal.

This facility will reinforce AccorHotels liquidity and enhance the common maturity of its monetary assets.

AccorHotels’ present sustainability efficiency has been assessed by Sustainalytics, one of many main suppliers of atmosphere, social and governance analysis and rankings to traders globally.

The ensuing rating might be used because the benchmark towards which efficiency enhancements might be assessed.

Jean-Jacques Morin, chief monetary officer of AccorHotels, stated: “I’m happy that we AccorHotels are the primary international hospitality chief to hyperlink the rate of interest construction of our new revolving credit score facility to our sustainability efficiency.

“Our group is totally dedicated to atmosphere, social and governance points, and we take delight in being a member of most key sustainability indices.”

The power contains the next 15 banks: BNP Paribas as coordinator, documentation and sustainability agent, Société Générale as coordinator and facility agent, MUFG and Unicredit as coordinators in addition to Banco Santander, Financial institution of America Merill Lynch, Barclays, Citibank, Crédit Agricole CIB, Commerzbank, CM-CIC, HSBC, ING, Natixis and NatWest as mandated lead arrangers.




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